SG Americas Securities LLC Makes New $597,000 Investment in Allegiant Travel Company (NASDAQ:ALGT)

SG Americas Securities LLC bought a new position in Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,556 shares of the transportation company's stock, valued at approximately $597,000. SG Americas Securities LLC owned 0.06% of Allegiant Travel as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Allegiant Travel by 489.1% in the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after acquiring an additional 450 shares during the period. GAMMA Investing LLC grew its stake in Allegiant Travel by 5,248.2% in the 1st quarter. GAMMA Investing LLC now owns 36,207 shares of the transportation company's stock worth $1,870,000 after acquiring an additional 35,530 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $655,000. Finally, Voloridge Investment Management LLC purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $16,713,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Down 1.7%

Allegiant Travel stock traded down $0.89 during trading on Friday, reaching $50.22. 350,154 shares of the company's stock were exchanged, compared to its average volume of 428,946. The company's 50-day moving average is $51.72 and its two-hundred day moving average is $69.01. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.87 and a current ratio of 0.90. Allegiant Travel Company has a 52-week low of $36.09 and a 52-week high of $107.57. The firm has a market cap of $916.52 million, a price-to-earnings ratio of -4.34, a PEG ratio of 0.29 and a beta of 1.74.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a negative net margin of 8.11% and a positive return on equity of 5.46%. The firm had revenue of $699.07 million during the quarter, compared to analysts' expectations of $700.00 million. During the same period in the prior year, the company earned $0.57 EPS. The firm's revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Allegiant Travel Company will post 7.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ALGT. Susquehanna lowered their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. TD Cowen lifted their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. Raymond James Financial reissued a "strong-buy" rating and set a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, UBS Group boosted their price objective on shares of Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Allegiant Travel currently has an average rating of "Hold" and a consensus target price of $63.70.

Allegiant Travel Profile

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.